MNI BRIEF: BOC Governor Tiff Macklem Opening Statement

MNI BRIEF: Text of Bank of Canada Interest-Rate Decision

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

A Typical Pre-Payrolls Friday, RBA Policy Decision On Tuesday

AUSSIE BONDS

ACGBs (YM +2.0 & XM +4.0) are holding richer after dealing in narrow ranges in today’s Sydney session. Today’s data drop was second-tier and offered little in the way of market-moving potential.

  • All eyes were on US tsys after they extended their post-FOMC rally yesterday ahead of US Non-Farm Payrolls data later today. Bloomberg consensus sees nonfarm payrolls growth of 241k in April after another strong 303k in March. There has been no cash trading for US tsys in Asia today due to a holiday in Japan.
  • Cash ACGBs are 3-4bps richer with the AU-US 10-year yield differential at -17bps.
  • Swap rates are 3-4bps lower.
  • The bills strip bull-flattened, with pricing flat to +4.
  • The local market’s focus next week will be the RBA Policy Decision on Tuesday. 23 of the 24 economists surveyed by Bloomberg are expecting the cash rate to be left at 4.35%. The more contentious issue is whether the RBA reinstates its explicit tightening bias.
  • RBA-dated OIS pricing is little changed across meetings, with the market pricing a 39% chance of a 25bps hike by September.
  • (AFR) The RBA might not achieve its inflation target for at least two years without raising rates further unless Treasurer Jim Chalmers uses the coming budget to cool the economy, economists warn. (See link)
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.